All Forum Posts by: John Robertson

Thank you! Yes, it's starting to really boom! When my partner and I started working on short sales, as I mentioned, we had a lot of trouble getting banks to cooperate. Our friends and partners still doing short sales are starting to get high closing ratios now. I'm glad to hear there's some healthy lease option interest--with lending like it is and so many people out there who have lost their homes, I wouldn't be surprised if it's the next big thing.

Hey Allen! What sort of investments are you looking for? One of my good friends owns an investor network that is performing a LOT of short sales. They're getting some good discounts. If you'd like to know more about them and would like to be on their investor list, let me know and I'll put you in touch with them.

Awesome! Vegas is another hot market--would I like to do some commercial work around there!

I'm green too, so just a warning, my knowledge is mostly borrowed from the gurus in my network.

I don't think there's a right or wrong way to approach this. My partner and I like to call this sort of situation a 'good problem to have.' I wish I could offer personal advice, but from what I've seen most investors like to purchase another property instead of pay off the ones they have. It gives a much more diverse portfolio.

I was about to say the same thing. My partner and I started our independent work in short sales. We tied a total of 9 properties up at $1 each. Unfortunately nothing worked out. The banks weren't discounting enough. With the comps so low, the discounts were bringing it closer to 100% market value than something we could flip or assign.

Thank you Mike!

To answer your question, we've considered purchasing property in bulk but there are a few obstacles. We wouldn't be cash buyers, there isn't a lot of time for due diligence, but most importantly we're still somewhat green so we would only want to manage one project/property instead of a portfolio of multiple properties.

What has your past experience/expertise been in?

Hello there!

I love the site here. It's nice to see a web forum where puerile insults and spam aren't EVERYWHERE (could use more cat pictures, though).

I'm 24 and new to this. I work in real estate investments (in bulk REO) and want to start purchasing property with my partner. We have a great agent, and several friends who make great livings in creative real estate. We have a lot of resources available to us and it would be absolutely foolish to not take advantage of what's sitting in our laps.

I'll be posting more and letting people know if we have need for partners on our first projects. Looking forward to what you all have to offer--